Financial Services Authority Research Articles

PENGARUH RASIO BIAYA OPERASIONAL PENDAPATAN OPERASIONAL (BOPO) DAN NON PERFORMING FINANCING (NPF) TERHADAP NET OPERATING MARGIN (NOM) PADA BANK UMUM SYARIAH YANG TERDAFTAR DI OTORITAS JASA KEUANGAN (OJK)

The Financial Services Authority is a state administration tasked with administering a system of regulation and supervision of all activities in the financial sector, such as the banking sector, capital market and non-bank financial services sector, such as insurance, pension funds, financing institutions and others. The phenomenon of a decrease in the net operating margin of Islamic banks attracted the author's interest to investigate further. This purpose of this study is to determine the effect of operating expense on operating revenue ratio (BOPO) and non performing financing (NPF) on the net operating margin (NOM) of Islamic Commercial Banks (BUS) registered on the OJK, either partially or simultaneously. This study uses quantitative methods with secondary data in the form of financial statements. The population are 12 BUS, but the sample used are only 6 BUS for 5 years with purposive sampling method. The analytical technique used is data normality test, product moment correlation test, multiple correlation test, multiple regression test, coefficient of determination test, t test and F test. The results of t test indicate that BOPO has a significant effect partially on NOM, while NPF has no significant effect partially on NOM. The results of the F test show that the BOPO and NPF have a significant effect simultaneously on NOM with a percentage coefficient of determination is 69.8%.

Pengaruh Inflasi dan GDP terhadap Tingkat Kesehatan Bank Syariah dengan Size sebagai Pembeda

The research aims to determine the impact of Inflation and Gross Domestic Product (GDP) on the health level of Islamic Banks in Indonesia from 2014 to 2020 with size as the differentiator. The population in this study is 14 Banking Companies from 2014 to 2020 registered with the Financial Services Authority (OJK), and using a purposive sampling technique, 14 banks were select as the research sample. The analysis method used is the panel data analysis method using Eviews 12. The health level of the Islamic Commercial Bank is calculate using the RGEC method is measured using Non-Performing Financing (NPF), Financing to Deposit Ratio (FDR), Return on Assets (ROA), and Capital Adequacy Ratio (CAR). The result of this study shows that inflation and GDP do not have a significant effect on NPF, FDR, and ROA. Meanwhile, inflation and GDP have a significant effect on the CAR Small size.

Fintech Based Investment Analysis (Peer to Peer Lending) in Sharia Economic Law and Positive Law

The development of digital technology today creates updates in all aspects of life, including investment. Investment is not something that is prohibited in Islam, but in practice, it must pay attention to Sharia principles. With the emergence of financial technology (Fintech)-based investment systems in various platforms, one of which is peer to peer (P2P) lending balanced with high levels of investment among millennials. In this case, Indonesian society, which is predominantly Muslim, must be careful in analyzing and making choices in investing, whether it is following the Shari’a and how the law regulates it. This research includes juridical-normative law research, to find out the review of Islamic law and positive law on fintech P2P lending and a conceptual approach to find out the concept of fintech P2P lending. The results of the study found that investment through the P2P lending platform is permissible in Islam with terms and conditions that are in accordance with Shari’ah principles. The contracts that can be used in P2P lending are al-bai’, ijarah, mudharabah, musyarakah, wakalah bi al ujrah, and qardh contracts. Every P2P Lending provider must obtain a permit from the Financial Services Authority (OJK) to run the entire lending system (POJK No. 77/POJK.01/2016) as well as follow the provisions of the DSN MUI Fatwa Number 117 of 2018. In positive law, it is regulated in the Civil Code, POJK Number 10 of 2022 and Bank Indonesia Regulation Number 19/12/PBI/2017.
 Keywords: investment, peer to peer lending, law

Analisis Pengaruh Corporate Governance dan Kinerja Keuangan terhadap Pengungkapan Islamic Social Reporting pada Perusahaan Perbankan Syariah Periode 2017-2021.

The purpose of this study is to find out whether the Corporate Governance and Financial Performance variables have a partial or simultaneous effect on the disclosure of Islamic Social Reporting in Islamic banking companies in Indonesia for the 2017-2021 period. This research was conducted in a quantitative descriptive manner using secondary data obtained from the financial reports of the Indonesia Stock Exchange (IDX) and the Financial Services Authority (OJK). The population selected in this study were 12 banking companies, the sample was selected using a purposive sampling method and 10 companies met the criteria. The variables used in this study are the board of commissioners, audit committee, DER and ROA as independent variables, Islamic Social Reporting (ISR) as the dependent variable. Hypothesis testing in this study used the t test (partial), F test (simultaneous) with the SPSS (statistical product and service solutions) application tool. The results of this study prove that: (1) The results of testing the analysis of corporate governance with indicators of the board of commissioners have a positive but not significant effect and the audit committee has a negative but not significant effect on disclosure of Islamic Social Reporting (ISR) (2) The results of testing analysis of financial performance which include indicators DER and ROA show that financial performance variables have a positive but not significant effect on disclosure of Islamic Social Reporting (ISR) (3) From the simultaneous test results, the results show that the Board of Commissioners, Audit Committee, DER and ROA simultaneously have a significant influence on Islamic Social Disclosure Reporting (ISR).

Juridical Analysis of the Legal Standing of Insurance Companies Creditors in Bankruptcy and Suspension of Debt Payment Obligations Application

This article aims to discuss and analyze the legal position of insurance company debtors in bankruptcy and PKPU proceedings. It also seeks to explore further the rationale and objectives of conferring the authority to file bankruptcy or PKPU proceedings for insurance companies on OJK. The research applies normative juridical research method. The article concludes that since the issuance of Law Number 21 of 2011 concerning the Financial Services Authority was issued, the authority over insurance companies, including the legal standing for bankruptcy application, was transferred to OJK. Such stipulation is reaffirmed in Law Number 40 of 2014 concerning insurance. The authority of OJK on bankruptcy applications for insurance companies is justified to protect the public interest. Even though the applicable legal provisions do not explicitly state that the specific requirement for bankruptcy applications against insurance companies also apply to PKPU proceedings, it should also apply mutatis to PKPU proceedings. Both proceedings against insurance companies might have an impact on the economy. In both bankruptcy and PKPU proceedings, equal treatment should not be given to creditors because the interests of the state are greater than those of the creditors. Therefore, the authority of the OJK to file for bankruptcy of insurance companies must be interpreted as the authority to file for PKPU for insurance companies.
 Keywords: bankruptcy, suspension of debt payment obligations, insurance

Preventive Legal Protection Against Leaks Consumer Data by Company Negligence Financial Technology

Various financial technology companies are currently using standard agreements. Withthe rise of standard agreements, business actors began to include exoneration clausesto release all forms of responsibility for losses suffered by consumers. One of thecompanies that has included the exoneration clause is Koinworks in Article 5 of theKoinworks Terms & Conditions. Based on this statement, the authors conducted thisresearch using two problem formulations, namely what are the legal consequences ofapplying the exoneration clause in standard agreements made by financial technologybusiness actors when viewed from Article 1320 of the Civil Code? And how aboutpreventive legal protection against leakage of consumer data by the negligence offinancial technology companies? To be able to answer the formulation of the problem,the authors use normative juridical research methods with a statutory approach. Theresults of the study show that the legal consequences of applying the exonerationclause in standard agreements made by Financial Technology business actors whenviewed from Article 1320 of the Civil Code, it can be concluded that the exonerationclause can be null and void by law. Then, preventive legal protection needs to becarried out by optimizing supervision by the Financial Services Authority, such astaking action against companies that have violated statutory provisions before theoccurrence of disputes or problems.
 Keywords: Legal Protection; Data Leakage; Financial Technology Companies

Illegal Electronic Investments in Trade Robot Missions According to the Criminal Law in Indonesia

Various financial technology companies are currently using standard agreements. With the rise of standard agreements, business actors began to include exoneration clauses to release all forms of responsibility for losses suffered by consumers. One of the companies that has included the exoneration clause is Koinworks in Article 5 of the Koinworks Terms & Conditions. Based on this statement, the authors conducted this research using two problem formulations, namely what are the legal consequences of applying the exoneration clause in standard agreements made by financial technology business actors when viewed from Article 1320 of the Civil Code? And how about preventive legal protection against leakage of consumer data by the negligence of financial technology companies? To be able to answer the formulation of the problem, the authors use normative juridical research methods with a statutory approach. The results of the study show that the legal consequences of applying the exoneration clause in standard agreements made by Financial Technology business actors when viewed from Article 1320 of the Civil Code, it can be concluded that the exoneration clause can be null and void by law. Then, preventive legal protection needs to be carried out by optimizing supervision by the Financial Services Authority, such as taking action against companies that have violated statutory provisions before the occurrence of disputes or problems.
 Keywords: Legal Protection; Data Leakage; Financial Technology Companies.

Peran Otoritas Jasa Keuangan dan Lembaga Penjamin Simpanan dalam Menjaga Stabilitas dan Keamanan Sistem Keuangan

The Financial Services Authority (OJK) is an institution that is independent and free from interference from other parties that has the functions, duties, and authority to regulate, supervise, examine, and investigate as referred to in Law No. 21 of 2011 concerning OJK. The establishment of this banking financial services sector supervisory institution was established in accordance with the mandate of Law Number 3 of 2004 concerning amendments to Law Number 23 of 1999 concerning Bank Indonesia. This research uses the literature review method. This research combines various sources of literary information, namely books, scientific journals, newspapers, the internet, and theses related to the topic, namely "The Role of the Financial Services Authority and the Deposit Insurance Corporation in maintaining the Stability and Security of the Financial System". The financial system has a very important role in the economy. Instability of the financial system can cause economic turmoil. Restoring an unstable economic system requires very high costs and a long time to restore public confidence in the financial and banking systems. LPS has two functions, namely protecting bank customer deposits and liquidating or liquidating banks that are known to be in poor health or insolvent. LPS has successfully strengthened and restored public confidence in the financial and banking system.

Assessment of the Succes Implementing Mobile Banking at East Nusa Tenggara Bank

This research aims to determine the influence of Information Quality, Information System Quality, Service Quality, on User Satisfaction. This research uses a quantitative approach, this research was conducted at Bank Nusa Tenggara Timur (NTT). Bank NTT launched a Mobile Banking application (B'Pung Mobile) but does not yet have permission from Bank Indonesia so a system analysis needs to be carried out regarding the quality provided. This research refers to Financial Services Authority (OJK) regulations regarding the Crime of Money Laundering (TPPU), the Crime of Terrorism Financing (TPPT), and the Funding for the Proliferation of Weapons of Mass Destruction (PPSPM). The sampling method uses the incidental sampling method. The sample in this research is Bank NTT customers who use Mobile Banking. The total sample in this study was 200 samples. This research data was collected using a questionnaire which was then processed using multiple linear regression analysis tests with the help of SPSS version 24. The results of the research state that (1) Information Quality partially has a positive and significant effect on Mobile Banking User Satisfaction at Bank NTT. (2) Information System Quality partially has a positive and significant effect on Mobile Banking User Satisfaction at Bank NTT. (3) Service Quality partially has a positive and insignificant effect on Mobile Banking User Satisfaction at Bank NTT.

The impact of income on investment interest among millennials in capital market (the implementation of theory of planned behaviour)

One of the challenges of Millennials when starting an investment is income, because most Millennials have limited income. The purpose of this paper is to determine the impact of income on investment interest among Millennials in the capital market. The population in this paper is Millennials at Prof. Dr. H. Kadirun Yahya (Panca Budi) Foundation who have an interest in investment. This paper uses a quantitative approach, with sampling techniques using probability sampling methods with random sampling types. The number of samples in this study were 65 Millennials. The types of data in this study are primary data, obtained through questionnaires and secondary data, obtained from journals and Financial Services Authority official websites and Indonesia Stock Exchange. Based on data analysis and discussion, it can be concluded that income has a significant effect on investment interest among Millennials.

PENGARUH JUMLAH KREDIT DAN PEMINJAM TERHADAP STABILITAS SISTEM KEUANGAN PADA FINTECH PEER TO PEER LENDING TAHUN 2019 SAMPAI 2022

This study aims to determine the effect of credit and the number of borrowers in Fintech P2PL services on financial system stability from 2019 to 2022. The source of research data comes from secondary data, which comes from fintech statistics found on the Financial Services Authority (OJK) website. The research uses a quantitative approach with time series data analysis using Ordinary Least Square (OLS). The results of the study show that Fintech credit has a positive but not significant effect on financial system stability. The number of borrowers in P2PL fintech services as a form of financial inclusion has a negative and significant impact on financial system stability. This study has the implication that short-term credit provided by fintech does not affect financial system stability, while the number of borrowers in P2PL fintech services causes a decrease in financial system stability so that increased financial inclusion must be accompanied by strong risk mitigation to maintain financial system stability.

The Role of the Financial Services Authority (OJK) in Overcoming Illegal Investment Cases According to the Capital Market Law

Illegal investment is an investment that does not have legal permission from the state for the investment you want to make. Illegal investment often occurs in developing countries, one of which is Indonesia. This illegal investment tends to occur more frequently in developing countries compared to developed countries. In Indonesia, the institution responsible for illegal investments is the Financial Services Authority (OJK). As a result of the rise in illegal investment, it can lead to fraudulent or fictitious investment. If this happens, it is certain that the victim will not get their money back because the investment service provider has been aiming to deceive people from the start. The OJK's authority to deal with illegal investments in Indonesia is contained in Law number 21 of 2011 concerning the Financial Services Authority, where the OJK has the authority and duties of the OJK in supervising financial services institutions in the capital markets sector.

Effects of capital ratio, quality of receivables, liquidity, and gearing ratio on profitability: A study financial institutions’ governance

This study aims to examine the effects of capital ratio, quality of receivable, liquidity, and gearing ratio on profitability in financial companies for the 2017–2020 period. This research data was obtained from the websites of companies registered with the Financial Services Authority (Otoritas Jasa Keuangan, OJK) using the purposive sampling method, which uses certain criteria, the number of samples used is 15 financing companies. The analytical method used in this study is multiple regression analysis using STATA 16. The results of this study show that the ratio of capital, the quality of receivables, liquidity, and gearing ratio (GR) simultaneously have a positive and significant effect on profitability. Based on the results of the t-test that has been carried out in this study, it can be concluded that the capital ratio has a negative and significant effect on profitability, the quality of receivables and gearing ratio has a negative and insignificant effect on profitability, and liquidity has a positive and insignificant effect on profitability. This research is consisting three conclusions, firstly, the capital ratio partially has a negative and significant effect on profitability. Secondly, the quality of receivables partially has a negative and insignificant effect on profitability. Thirdly, liquidity partially has a positive and insignificant effect on profitability. Fourthly, the gearing ratio has a negative and insignificant effect on profitability.

Analisis Kesiapan Penggunaan Digital Finance pada UMKM di Kota Palopo Perspektif I-TOE Model

Digital finance can help improve the effectiveness and efficiency of business processes and operations, especially Micro, Small and Medium Enterprises ( SMEs ). Productive SMEs are one of the main keys in driving the acceleration of national economic recovery. The Financial Services Authority (OJK) also explained the importance of Digital finance's contribution in supporting the achievement of Sustainable Development Goals (SDGs). The urgency of the research is related to the use of digital finance which is still not massive among SMEs in Palopo City, one of which is caused by the readiness of SMEs in using digital finance. This study aims to determine the readiness of SMEs in using digital finance. The research method uses a quantitative approach based on the Individual - Technology Organization Environment (I-TOE) model by involving SMEs in Palopo City as respondents. The population is SMEs who live in Palopo city, and the sampling technique uses simple random sampling. Data collection is done through surveys / questionnaires both manually and online. The data analysis technique in this study used multiple linear regression. The results showed that partially the technology and environmental variables had a positive effect on the readiness of SMEs to use digital finance. as well as for individual and organizational variables showed results that had no effect. Meanwhile, the results of the simultaneous test can explain that the Independent variables (Environment, Organization, Individual and Technology) affect the readiness to use digital finance variable.

Pengaruh Due Professional Care dan Hal Audit Utama terhadap Kualitas Audit: Peran Moderasi Pengalaman Kerja

The World Bank 2019 survey expressed their concerns about the inconsistent application of audit standards in Indonesia. In response, the Financial Services Authority (OJK) approved the SA 701 Audit Standard to enhance transparency and audit quality. Due Professional Care, Key Audit Matters, and work experience were identified as factors influencing audit quality. The study aims to investigate factor that impact and improve auditors' practices and its understanding.
 The study was conducted using a quantitative method. The data used in this study were primary data obtained from questionnaires distributed to public accounting firms in DKI Jakarta. Purposive sampling with predetermined criteria was used as the sampling technique and a total of 120 auditors working in 10 audit offices of DKI Jakarta were obtained. The analysis method was multiple regression analysis, processed and tested with IBM SPSS 25. The results of the research indicate that the variables of Due Professional Care and Key Audit Matters have a significant positive influence on Audit Quality. Additionally, Work Experience significantly strengthens the relationship between Due Professional Care and Key Audit Matters with Audit Quality.

The restructuring of credit and lease agreements and its impact on micro, small, and medium-sized enterprise and insolvency risks amid the pandemic: A normative juridical method

Micro, small, and medium-sized enterprises (MSMEs) play a crucial role in Indonesia’s economy, contributing to job creation, income growth, and wealth distribution (Koeswahyono et al., 2022). This research aims to analyze the impact of the COVID-19 pandemic on lease agreements (leasing) in the non-banking financial sector, particularly in financing companies. The research is conducted through a normative juridical research method. The main findings of this study show that credit restructuring is a government solution to address instalment payment difficulties, especially for MSME debtors. The article also addresses legal certainty issues in lease agreements, mainly due to regulatory gaps in the Civil Code. With specific conditions, credit restructuring is provided with a maximum limit of IDR 10 billion (Siregar et al., 2021). This research concludes that, despite being considered an optimal solution, credit restructuring also has negative impacts, and legal certainty is critical in this context. Using data from the Financial Services Authority in 2021, the article explains that credit restructuring has positively stimulated Indonesia’s economic growth. MSME debtors are the main focus, comprising 39.73 percent of the total credit restructuring. This policy is seen as a strategic step to support economic recovery, especially considering the central role of MSMEs in the national economy.

Clustering Sukuk Using the K-Means Algorithm for Allocation of Investors Based on Investment Risk Profile

The number of capital market investors has increased by 33.53% from 7,489,337 at the end of 2021 to 10,000,628 on 3 November 2022. One of the most popular Islamic capital markets today is sukuk with high yields, lower taxes and short returns. Investors consider four main factors that affect the issuance of sukuk, namely the type of sharia contract, yield, effective term, and nominal value of the sukuk. Investors will find it very difficult to decide on their investment because they will face a lot of data and variables. The solution to this problem can be done by perform multivariate analysis by grouping sukuk based on the investor’s risk profile, namely defensive, conservative, balanced, moderately aggressive, aggressive using the KMeans machine learning compile with phyton. Sukuk data used are from Financial Services Authority (OJK) and PT Kustodian Sentral Efek Indonesia (KSEI). From the results, 3 clusters were obtained cluster 1 (65 sukuk), cluster 2 (68 sukuk) and cluster 3 (20 sukuk). The results investor risk profile classifications are the defensive and conservative types investor can invest in cluster 3, the balanced type investor can invest in cluster 2, the moderately aggressive and aggressive investor can invest in cluster 1.

Pengaruh Islamic Values Dan Corporate governance Terhadap Corporate Governance Disclosure Pada Bank Syariah di Indonesia

This research aims to determine the effect of Islamic values and corporate governance on corporate governance disclosure. The independent variables in this research are Islamic values and corporate governance, which are proxied by corporate governance mechanisms, managerial ownership, and institutional ownership. The dependent variable in this research is corporate governance disclosure. This research's population consists of all Annual Reports of Islamic Commercial Banks that are registered with the Financial Services Authority (OJK). The sampling method used was purposive sampling, and 13 companies were selected from a total sample of 52 research data points. The analysis technique used is multiple linear regression with SPSS v25 software. The results of this research indicate that Islamic values have no effect on corporate governance disclosure, corporate governance proxied by corporate governance mechanisms has an effect on corporate governance disclosures, managerial ownership has no effect on corporate governance disclosures, and institutional ownership has no effect on corporate governance disclosures.

Carbon emission disclosure in the agriculture industry in Indonesia: The determinant factors

The agriculture industry in Indonesia, despite its huge contribution to the country’s economy, is responsible for a substantial amount of carbon emissions. Hence, according to the country’s stock exchange regulation, agriculturally listed companies shall annually report their carbon emissions and carbon emission mitigation. The main objective of our research is to analyze the factors that influence the reporting of greenhouse gas emissions by agriculture corporations. The examined factors are environmental performance, which is assessed through environmental performance ratings and environmental management certification, the released sustainability report, ownership structure, and financial characteristics. Using 91 publicly traded agriculture companies from 2019 to 2022 as a sample, the ordinally least squares regression analysis shows that publications of a company’s carbon emissions tend to rise in accordance with both the rating of its environmental performance and the issuance of its sustainability report. Institutional ownership and financial characteristics of a company do not have any relationship with the extent of carbon emission disclosures. This study delivers an understanding to the Financial Service Authority Agency that the environmental performance rating assessment by the KLH and the yearly sustainability report encourage companies to do activities related to environmental sustainability.

Legal Protection for Minority Shareholders Arising from the Delisting of Issuer Shares (A Comparative Study of Indonesian, United States, and Singapore Law)

This research paper provides a comparative analysis of the legal frameworks governing the delisting of issuer shares in Indonesia, the United States, and Singapore. Using a normative legal research approach, supplemented by interviews with members of the Financial Services Authority (OJK) and a Member of the House of Representatives Commission XI, the study explores how each jurisdiction addresses the delisting process, particularly focusing on the protection of minority shareholders . The analysis reveals that Indonesia's legal system, influenced by its Civil Law heritage, contrasts with the Common Law approaches of the US and Singapore, especially in terms of shareholder involvement in voluntary delisting and the specificity of conditions for forced delisting. The study suggests enhancements to the Indonesian framework, such as clearer guidelines for shareholder approval in delisting decisions and more transparent criteria for forced delisting. These recommendations aim to improve the protection of minority shareholders within Indonesia's Capital Market.